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dollar index

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Forex News – Dollar weighed by White House turmoil after Sean Spicer resignation shakes up Trump’s inner circle

Posted on July 24, 2017 at 1:37 pm GMT

Following the recent developments connected with the investigation into Russia’s ties with the US presidential election and Trump’s failure to pass the health care bill in Congress for the second time, the uncertainty around Trump’s administration peaked on Friday after Sean Spicer, the White House press secretary, resigned from his role. The dollar saw little immediate reaction to the news on Friday but last week’s events weighed on the currency in forex markets today. Sean Spicer announced on Friday his [..]

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Technical Analysis- Dollar index trades within descending channel; bearish and oversold

Posted on July 19, 2017 at 8:21 am GMT

The dollar index has stretched below the 95.00 key-level, extending its downleg that started on January 3, when it touched a multi-year high of 103.81. Looking at the technical indicators, the index is likely to remain bearish but there is a possibility of an upside reversal in the near-term horizon. The RSI has been hovering in bearish territory since March 14 and attempted to break above 50 three times since then but struggled to hold above it. Currently, the indicator is showing that the index is oversold as it [..]

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Forex News – US CPI and retail sales data miss knock the dollar down

Posted on July 14, 2017 at 4:48 pm GMT

The dollar plunged immediately after today’s widely expected data on US CPI and retail sales disappointed market watchers who, among others, were looking for evidence on inflationary pressures that would support another rate hike by the Federal Reserve during the current year. Instead, the figures added to doubts about whether Fed policymakers will proceed with an additional rate hike in 2017. The negative momentum following Fed Chair Janet Yellen’s dovish remarks in her two-day testimony to Congress deepened today. Following [..]

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Asian Session – Dollar rises to 4-month high on strong US data

Posted on July 20, 2016 at 8:23 am GMT

The US dollar climbed to a 4-month high against a basket of currencies in Asian trading on Wednesday, extending yesterday’s gains. The greenback has been bolstered in recent days by a series of solid US economic data, including stronger-than-expected housing figures yesterday. The dollar index rose above 97.0 for the first time since March yesterday and hit a high of 97.29 earlier in Asian trading today. The run of healthy indicators for the US economy has renewed expectations that the [..]

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